2006 Utah Code - 56-1-3 — Stock subscriptions -- Minimum requirements.

     56-1-3.   Stock subscriptions -- Minimum requirements.
     The Division of Corporations and Commercial Code shall not issue a certificate of incorporation to any railroad corporation which proposes to construct a railroad until it shall appear by the affidavit of at least three of the incorporators that $1,000 for each mile in length of the railroad proposed to be constructed shall have been subscribed, and that 10% of the stock subscribed by each stockholder has been paid in.

Amended by Chapter 67, 1984 General Session